“After a thorough assessment of how to maximise shareholder value, including consideration of a variety of alternatives, we believe this transaction is the best path forward for Nokia and its shareholders,” said Risto Siilasmaa, Nokia’s chairman and interim chief executive.
Nokia expects to book a gain of €3.2bn from the sale and will now be focused on three main areas: NSN, its telecoms equipment business that it recently seized control of from Siemens; its HERE mapping business; and a new unit known as Advanced Technologies to develop technology and licence patents.
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